According to Amr El-Kady, CEO of the Egyptian Tourism Authority (ETA), Egypt’s tourism revenues are expected to increase by seven to eight percent by the end of 2024.
Tourism revenues in Egypt reached $6.6 billion in the first half of 2024, a notable increase from $5.6 billion in 2010 and $6.3 billion in 2023.
El-Kady has projected a growth rate of three to four percent in overall tourism by the end of 2024. This increase in revenue can be attributed to a shift in the demographics of international tourists visiting Egypt, enhanced spending behaviors among travelers, and rising demand for hotel accommodations, which has subsequently led to an increase in prices. According to Ahram Online, Egypt is actively developing 200,000 to 250,000 new hotel rooms in response to this heightened demand.
Moreover, El-Kady highlighted that revenue growth is not uniform across the country. For instance, the Red Sea area is anticipated to experience a 10 percent increase, while Cairo and Giza are expected to see growth of at least 15 percent. It is estimated that the total number of tourists visiting Egypt in 2024 will fall between 15.3 million and 15.4 million.
In related developments, Egypt welcomed a record-breaking 7.069 million tourists in the first half of 2024, reflecting a slight increase from the 7.062 million visitors recorded during the same period in 2023.
Additionally, the number of tourists from Saudi Arabia has surged by 25 percent, with an anticipated one million Saudi visitors expected by the end of 2024. As part of its comprehensive tourism strategy, Egypt’s National Strategy for Sustainable Tourism 2030 aims to attract 30 million tourists annually by 2028. In July, the Egyptian cabinet approved a new initiative valued at EGP 50 billion, funded by the Ministry of Finance, to bolster the country’s tourism sector in response to ongoing global and regional challenges.
